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Commercial Data Processing

Commercial Data Processing. EFTPOS. EFTPOS. Electronic Funds Transfer at Point Of Sale. Unites EFT and POS systems. Used in most shops to purchase goods. Electronic Funds Transfer. A way of paying for goods without using cash.

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Commercial Data Processing

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  1. Commercial Data Processing EFTPOS

  2. EFTPOS • Electronic Funds Transfer at Point Of Sale. • Unites EFT and POS systems. • Used in most shops to purchase goods.

  3. Electronic Funds Transfer • A way of paying for goods without using cash. • Funds transferred automatically from your bank account into the shop’s. • Uses a debit card e.g. Switch or Delta.

  4. Point of Sale Goods are paid for at a POS terminal (a till). POS terminals usually have : • an input device e.g. a barcode scanner. • a backing store or a connection to a mainframe.

  5. EPOS • each item in a shop has a barcode • prices displayed on shelves not items • barcodes read by scanner at till • product code sent to computer • computer returns name and price to till to be displayed • till produces itemised receipt • computer updates stock files

  6. EFTPOS EFT system to pay for the goods: • items are scanned at terminal and debit card is swiped • terminal checks card against file of stolen cards • computer authorises transaction or contacts bank if required

  7. Advantages of EFTPOS • payment guaranteed by system • less paperwork • quicker than cheques • smaller queues • less cash in store

  8. Disadvantages of EFTPOS • expensive to install • harder for customers to keep track of their spending • card fraud possible • what if part or all of the system fails?

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